Australia: New date for the Personal Property Securities registration commencement

The 30 January 2012 is the new date for the commencement for the
PPS Register.

Migrating registers such as the ASIC Register of Charges and
REVS will be closed for the 2 days prior to allow for the migration
process.

As advised in our e-alert of 7 September this gives you a little
more time to prepare for the implementation of the new provisions
but there is a lot to do so don't leave it too long.

We are currently assisting a number of clients with this process
and can help you with getting your PPS plan in place.

Hunt & Hunt can assist you in the following ways

Training of staff - we can come to your business to present on
the topic or provide advice by telephone or email as and when
questions arise

Internal due diligence to locate existing securities and other
arrangements such as sales on retention of title and consignment
which will be deemed securities under the PPSR

Setting up your secured party groups and registration of
interests

Reviewing your various supply and credit agreements to ensure
you take advantage where possible of opting out provisions, so that
you have the right to register your security in the PPSR and that
you can pass on any costs of registration of your securities.

We will provide you with further updates and developments as
they occur and look forward to working with you to ensure a smooth
transition to the PPSR for your business.

The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.

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